Gold price prediction today: Will gold prices continue to hit new highs on Trump tariff threats on EU? Top points to watch out for

Gold price prediction today: Gold prices may continue to scale fresh peaks in the coming days on ongoing geopolitical uncertainty, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. He shares his views and recommendations for gold investors and key levels to watch out for in the near term:Gold and Silver prices continue to surge higher marking record highs, as intensifying geopolitical risks and shifting US monetary expectations fuelled strong safe-haven demand through the week. Escalating unrest in Iran, where over 500 people were reportedly killed, renewed US threats of military action and tariffs on countries trading with Iran, and the arrest of Venezuela’s President Nicolas Maduro injected both short- and long-term uncertainty into global markets, supporting central bank buying and investor inflows into precious metals. With this President Trump has also levied tariffs on major EU nations with a threat to increase the same after June 1st if the deal to buy Greenland does not go through.Gold prices marked a low of around ₹141,000 and reversed sharply from there, as mentioned previously till prices are sustaining above ₹138,000 momentum for prices will remain on higher side. On lower end, immediate support remains at ₹143,000 and ₹140,000. Bollinger bands which were flat have expanded with prices on the higher side showcasing a positive run through expectations. This surge is more convincing as prices are rising along with a surge in volumes showing the buyers strength. The target of ₹145,000 is achieved, however any closing above the same could take the prices higher towards ₹148,000 and ₹152,000 from a medium to long term perspective.Despite a relatively firm dollar, Gold and Silver continued to mark record highs as geopolitical tensions, weak economic data, policy uncertainty, and easing inflation sustained safe-haven appeal. Focus this week will be on US inflation, GDP and speech from President Trump which could keep the volatility along with updates on uncertainties mentioned above. (Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)